According to the latest FDIC Quarterly Banking Profile the number of problem banks has declined to a six year low. As of March 31, 2015, a total of 253 banks were still classified as problem banks by the FDIC, down from 291 at the end of 2014.
During the first quarter of 2015 a total of four banks failed which resulted in them being removed from the Problem Bank List. Since the number of problem banks declined by 38 during the first quarter the remaining 34 institutions taken off the Problem Bank List were either acquired or experienced a financial recovery which allowed the FDIC to no longer classify them as problem banks.
A slowly improving economy combined with increased revenue, earnings, and loan growth has resulted in steady financial improvement in the banking industry.
The number of problem banks has declined by more than 70 percent from the peak of 888 recorded in March 2011.
The total amount of assets held by problem banks has also dramatically declined since the height of the financial crisis. From almost half a trillion dollars at the end of 2009 the amount of problem bank assets has declined to only $60.3 billion as of March 31, 2015.
Both the number of problem banks and related problem bank assets have declined proportionately over the past six years.